Diamonds and Dogs
1/8/13
GameStop Corp. (GME)GameStop management should stop playing games because its stock is falling today. Shares fell 6.30% to $23.19 after the company reported worse than expected holiday sales. GameStop said that for the 9-week holiday period, total sales were $2.88 billion down 4.6% from the same period last year. Comparable store sales were down 4.4%, including a 3.5% decline in the U.S. and a 6.4% slide in international stores. The company now expects its fiscal fourth quarter to also show declines of 7.5 to 9%, but management still remains positive on their 2013 outlook. GameStop is trading in the middle of its 52-week range today.
Signet Jewelers Limited (SIG)
Signet Jewelers is sparkling today, up 8.82% at $58.58. The operator of Kay Jewelers and Jared saw its shares climb after news that it had better than expected holiday sales. Signet Jewelers said U.S. sales rose 4.7% during November and December. This time period usually brings in half of Signet's profit and a third of its sales. The good holiday sales also led Signet management to increase expectations for Valentine Day sales. The company rose nearly $5.00 today to set a new 52-week high; soaring past its previous 52-week high of $56.95.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.